Singapore: Monetary Authority Consults on E-Payments User Protection Guidelines

On February 13, 2018, the Monetary Authority of Singapore (MAS) launched a public consultation on proposed guidelines to protect users of electronic payments (e-payments), with a view to encouraging the wider adoption of this payment method within the city-state by enhancing the existing framework of protection for consumer and account users.

To reduce the risk of losses arising from unauthorised or mistaken transactions with regard to e-payments, the MAS has proposed a set of guidelines which cover the following key areas:

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